After weeks or months of house hunting, it’s quite exciting when you are finally ready to buy a home. However, there is a process involved with making an official offer, and it’s important to understand what it entails so you don’t let your dream home slip through your fingers. The real estate agents at Lawrence Realty Inc in Red Wing, MN, understand purchasing a home is one of the biggest financial investments you will make in your lifetime and are here to explain what you need to know about making an offer.
How to Make an Offer When You’re Ready to Buy a Home
1. Market Research
To improve the chances of landing your dream home, you will need to submit an offer that’s reasonable to the seller. Research the local market and look for the prices similar houses in the area have sold for. Learn about the seller’s personal history with the home, as well. For example, research when they bought it and for how long the home has been on the market.
2. Mortgage Pre-Approval
Most sellers won’t take your initial offer seriously unless you have already been pre-approved by a lender to take out the mortgage for the home. After all, if you can’t secure the loan, you will not be bound by the contract on the offer.
3. Hire a Real Estate Agent
Whether this is your first or fifth time purchasing a home, it helps to have the professional assistance of an experienced real estate agent. Not only will they handle the tough negotiations, but they are also working in your corner to ensure you land the best deal possible. In addition to helping you find your ideal home, they’ll assist in drafting a purchase agreement that is suitable for both you and the seller.
If you’re ready to buy a home and need a knowledgeable real estate agent to guide you through the process, turn to the team at Lawrence Realty Inc in Red Wing, MN. The family-owned agency is committed to helping both buyers and sellers achieve a successful transaction. Call (651) 388-4745 to schedule a consultation, or visit their website today to browse their listings.